Today we’d like to introduce you to Mike Metzger
Alright, so thank you so much for sharing your story and insight with our readers. To kick things off, can you tell us a bit about how you got started?
I’ve always been interested in finance from an early age. I was the guy in college who had fun putting together 5-year cash flow projections and modeling out future business profits. It was during that time that I began investing in the stock market with the little money I had. It was a natural fit that, post-college, I took a job at a financial planning firm. It was first at a traditional brokerage firm and then I transitioned over to a large west coast bank brokerage. However, in those years, it became evident that I was helping the wrong people. The whole industry revolved around helping those that were already wealthy and retired. I didn’t understand why I couldn’t help those that really faced the difficult financial decisions that could really change the trajectory of their future. I knew the industry I had experienced didn’t align with my beliefs or passion.
So, in 2018, I launched my own firm, designed for millennial business owners. For established business owners, implementing complex financial and tax strategies at the right timing can make the difference between being financially independent at an early age or working much longer than preferred. Investment management is just a small piece of financial planning, the real needle-movers are in the daily decisions we make with our current financial circumstance. As a result, I created a fee structure that takes the traditional “assets under management” out of the equation. I wanted to be intimately involved in every financial situation or matter that surfaces in my client’s life.
I’m sure it wasn’t obstacle-free, but would you say the journey has been fairly smooth so far?
Taking a entrepreneurial leap is scary. When I left those large brokerage institutions, they make it well known that you cannot solicit clients. I took that very seriously. So, the notion that I had to just trust in my belief and passion was unnerving. I had no idea how long it would take to make enough income to meet my monthly business and household expenses. Fortunately, as it turned out, my firm was well-received. The need from hard-working millennial professionals and business owners was very evident and I was able to help provide them with a solution. But, thats when the real challenges popped up, and my client’s were no stranger to it. When should I make my first hire? When does it make sense to delegate out a task versus absorb it? In the beginning, there were times my cash flows weren’t healthy because I hit the gas too fast. Being an entrepreneur can be a constant struggle because it’s ever-changing with the ebbs and flows.
Appreciate you sharing that. What should we know about Lifepoint Financial Design?
Lifepoint Financial Design is a comprehensive financial planning firm designed for millennial business owners. For established business owners, implementing complex financial and tax strategies at the right timing can make the difference between being financially independent at an early age or working much longer than preferred.
From experience, the problem with entrepreneurship is that oftentimes business owners are so dedicated to their craft, that it becomes difficult to see the forest through the trees. This can mean many neglected financial opportunities that could have resulted in meaningful outcomes for their personal finances.
I designed my firm to tackle the real needle-moving financial strategies that help my clients feel unstuck in these matters. Investment management is a very small slice to the overall pie. I don’t want to be a face that my clients see once or twice a year to review portfolios. I want to intimately be involved in all of the financial decisions that matter, and throughout the year. The financial decisions made daily today, determine their future state, so why wouldn’t I help them through that journey? I’m proud that I can be apart of their families wellbeing and help them achieve their future dreams.
I help our clients with wealth creation, both in the business and personally, mitigating taxes, and setting up a plan for a work-optional lifestyle. Life is not a straight line, it ebbs and flows constantly, and my relationship with business owners is ongoing to adjust course as needed. Deciding which entity structure makes the most sense for their stage of business?, how can I benefit personally from my business? how can I put the most amount of money away for the future?, how can I legally reduce our tax burden?, are we on track to be able to retire early and travel?; these are all questions that I answer for clients and devise a financial plan that’s customized to their personal situation.
Is there anyone you’d like to thank or give credit to?
I’ve had so many mentors and supporters throughout my entrepreneurial journey that it difficult to pick out a few. I’m a huge believer in community and lifting each other up. I’ve been fortunate to find communities of business leaders, entrepreneurs, and friends that have that same belief. Learning to always have an open ear and mind has been something that has allowed me to propel my professional career. Books have been big contributors to my success, as well. The Happiness Equation, Who Not How, Rocket Fuel, Traction and The 5am Club are just a few on those influential books on myself and my business. My clients have inspired me to continue to my passions and believe in myself. I can only hope I am able to provide some of that same inspiration and support to others through our conversations.
Contact Info:
- Website: https://lifepointfd.com/
- Instagram: https://www.instagram.com/_mikemetzger/
- Facebook: https://www.facebook.com/mikemetzgerCFP
- Youtube: https://www.youtube.com/@_MikeMetzgerCFP/videos
- Other: https://podcasts.apple.com/us/podcast/entrepreneur-strategies/id1696186347
